The Board of Directors of The Coca-Cola Company Increases Annual Dividend by 7 Percent
Board Approves 49th Consecutive Annual Dividend Increase
Elects Guy Wollaert as Senior Vice President
ATLANTA--(BUSINESS WIRE)-- The Board of Directors of The Coca-Cola Company today approved the Company's 49th consecutive annual dividend increase, raising the quarterly dividend 7 percent from 44 cents to 47 cents per common share. This is equivalent to an annual dividend of $1.88 per share, up from $1.76 per share in 2010. The first quarterly dividend is payable April 1, 2011, to shareowners of record as of March 15, 2011.
Guy Wollaert elected Senior Vice President of the Company (Photo: Business Wire)
The increase reflects the Board's confidence in the Company's long-term cash flow. The Company returned $7.2 billion to shareowners in 2010, through $4.1 billion in dividends and $3.1 billion in share repurchases.
The Board also elected Guy Wollaert as Senior Vice President of the Company.
Mr. Wollaert was recently promoted to the position of Chief Technical Officer. He is responsible for leading the Technical Function, which includes Research and Development, Science, Global Quality and Product Integrity and Supply Chain. Mr. Wollaert previously served as General Manager, Global Juice Center, where he was responsible for leading and coordinating business development, finance, supply chain and marketing for the Company's global juice and juice drink operations. Prior to this, he served as Vice President, Supply Chain Development. Mr. Wollaert joined The Coca-Cola Company in 1992 in Brussels and has held various positions of increasing responsibility in the technical and supply chain fields.
Mr. Wollaert has a master's degree from Hoger Architektuur Instituut St-Lucas in Ghent, Belgium.
About The Coca-Cola Company
The Coca-Cola Company is the world's largest beverage company, refreshing consumers with more than 500 sparkling and still brands. Led by Coca-Cola, the world's most valuable brand, the Company's portfolio features 14 billion dollar brands including Diet Coke, Fanta, Sprite, Coca-Cola Zero, vitaminwater, Powerade, Minute Maid, Simply and Georgia. Globally, we are the No. 1 provider of sparkling beverages, juices and juice drinks and ready-to-drink teas and coffees. Through the world's largest beverage distribution system, consumers in more than 200 countries enjoy the Company's beverages at a rate of 1.7 billion servings a day. With an enduring commitment to building sustainable communities, our Company is focused on initiatives that reduce our environmental footprint, support active, healthy living, create a safe, inclusive work environment for our associates, and enhance the economic development of the communities where we operate. For more information about our Company, please visit our website at www.thecoca-colacompany.com.
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Source: The Coca-Cola Company
Released February 17, 2011